Swatch Group History
Under the leadership of Nicolas G. Hayek (1928-2010), the Swatch Group earned a worldwide reputation as a gem of the watch industry.
Founded in 1930, SSIH (Société suisse pour l'industrie horlogère), the largest Swiss watch company, and ASUAG (Allgemeine Schweizerische Uhrenindustrie AG), the largest watch movement manufacturer, founded a year later, owned a large portfolio of well-established Swiss watch brands and production companies. The merger of Omega and Tissot formed the cornerstone of SSIH, which was later joined by Hamilton and other companies. ASUAG united numerous ébauches factories and watch brands, including Longines, Rado, Certina and Mido.
The quality of Swiss watches was outstanding, but new technologies threatened to bring massive change to the watch industry. In the late 1970s, the recession and strong competition from low-cost quartz watches from Asia forced SSIH and ASUAG to the brink of insolvency. At this time, Nicolas G. Hayek was given the task of developing a strategy to secure the future of the two firms. He merged the two companies and thus not only laid the foundations for today's Swatch Group, but also paved the way for the creation of new opportunities and the development of a new culture.
1983
THE FIRST SWATCH IS BORN
Nicolas G. Hayek’s strategy included the creation of a low-cost, high-tech, artistic, and emotional Swiss Made “second watch” – the Swatch. Made from just 51 components and assembled on automated production lines with a Swiss Made movement, the watch is the initial spark for the remarkable upswing in the Swiss watch industry.
ASUAG-SSIH is renamed SMH (Société suisse de Microélectronique et d'Horlogerie). Nicolas G. Hayek is appointed CEO of the company.
The company Swatch Ltd. is established in Biel (Switzerland) by SMH to oversee the remarkable success of the Swatch watch. Production, managed by ETA in Grenchen (Switzerland), is paired with Swatch's global vision, promotion and distribution of the 'enfant terrible' of the Swiss watch industry.
Flik Flak is the world’s favorite children’s watch and has been keeping kids everywhere on track since 1987. It is the first kids’ watch to translate the concept of telling the time into accessible fun and entertainment.
Meco, founded in 1921 in Grenchen, Switzerland, becomes part of SMH. As a pioneer in the complex automation of manufacturing processes, the company becomes both a benchmark and the spearhead of the development and production of Swiss Made crowns and pushers.
After several successful Swatch projects, Nick Hayek joins Swatch, first as VP Marketing, then as President of the brand. Two years later, he joins the Extended Group Management Board of SMH and becomes a member of the Executive Group Management Board a few months later.
SMH acquires Blancpain and Frédéric Piguet. The manufacture Frédéric Piguet will be fully integrated into Blancpain from 2010.
Nayla Hayek is elected to the Board of Directors.
Pierre Balmain opens his fashion house in Paris (France) in 1945 and becomes one of the defining figures of Parisian haute couture. With the acquisition of an exclusive license in 1987, SMH places its incomparable know-how and cutting-edge watchmaking technologies at the service of the Parisian house and acquires the Pierre Balmain brand in 1995 for the production and worldwide distribution of watches.
1998
New name
SMH is renamed The Swatch Group Ltd. The new logo stands for dynamism, high-tech, and Swiss Made. The spheres represent a watch growing to its completion as well as the creativity and various technologies within Swatch Group, which form a whole.
The production company founded in 1956 is integrated into the Swatch Group and supplies the Group's prestige and luxury brands initially with products made of precious metals and later with bracelets and buckles made of steel and titanium.
Swatch Group acquires the brand Breguet, one of the oldest timepiece manufacturers in the world. Nicolas G. Hayek revives the cultural and emotional essence of the brand and returns it to its former glory.
Swatch Group broadens its portfolio with the brands Jaquet Droz, Glashütte Original, and Union Glashütte, enabling them to grow successfully on an international level.
Swatch Group founds DYB (Dress Your Body), a company that provides gem-setting, jewelry-making, machining and craftsmanship services for the Group's brands, from design to manufacture.
The “Société Générale des Fabriques d'Aiguilles Universo SA” in La Chaux-de-Fonds, founded in 1909 by the merger of several watch hand factories, is integrated into the Swatch Group. Universo is not only a leading watch hand manufacturer, but also expands its expertise to include the production of dial appliqués and watch crystals made of hesalite.
In the premises of a former packaging company in Castel San Pietro, Switzerland, the company Swatch Group Watch Assembly is founded, which assembles watches for some of the Group's brands. The company is later renamed Swatch Group Assembly.
Marc A. Hayek joins Blancpain as Marketing Manager. Before that he had been employed by Swatch and Certina. He joined the Extended Group Management Board of the Swatch Group a few months later and was appointed to the Executive Group Management Board in 2005.
Tourbillon, a multi-brand watch and jewelry boutique network, is created to bring all the prestige brands within the Swatch Group together under one roof.
A few years after the reorientation of its activities towards the production of dials, Rubattel & Weyermann becomes part of the Swatch Group. From now on, the company expands its capabilities by using new technologies such as PVD for dial coloring and lasers for ceramic processing.
Nick Hayek is appointed CEO and President of the Swatch Group’s Executive Management Board.
Hour Passion is a multibrand retail concept that operates in airports and outlets. The very first boutiques are opened in French airports, then internationally in Europe and Asia. From 2011, the concept is adapted to city centers and outlet villages.
Swatch Group takes over the dial manufacturer MOM Le Prélet, founded in 1895 in Les Geneveys-sur-Coffrane (Switzerland). It devotes its production to the Group's prestige brands.
The Nicolas G. Hayek Center in Ginza, Tokyo (Japan) is inaugurated. The architect Shigeru Ban envisaged the building as being constructed along the lines of a hanging garden, devoting a considerable amount of space to greenery. The building is home to several brand boutiques as well as Swatch Group offices and customer service.
Nicolas G. Hayek initiates a project to develop a complete clean energy chain, from solar energy harvesting to an efficient zero-emission powertrain. To this end, Belenos Clean Power Holding is created and pursues research and development in new promising materials for batteries, new battery management systems and new high-speed compressors.
2010
Nicolas G. Hayek
Nicolas G. Hayek, Swatch Group’s Chairman and Delegate of the Board of Directors, passes away while at work at his beloved company.
Nayla Hayek is unanimously appointed Chairwoman of the Board of Directors.
Marc A. Hayek is appointed President of the brands Breguet, Blancpain, and Jaquet Droz.
The production company founded in 1987 joins Swatch Group and specializes in movement assembly, watch finishing and customer service for numerous brands in the high-end, luxury and prestige segments.
Swatch Group opens the artist residency in the heart of Shanghai, where artists live, work and showcase their creations. A unique project that stands for contemporary art, culture and diversity.
The company specializes in the production of top-of-the-range watch cases. It processes the noblest materials for the most exceptional Swiss watch brands. Simon Et Membrez becomes part of Swatch Group in 2012 and will be fully integrated into Blancpain in 2022.
Swatch Group acquires international fine jewelry and watch brand Harry Winston. The acquisition beautifully marries the expertise of the Group with the extraordinary fine jewelry expertise of the House, and furthers its commitment to excellence and to its legacy as the King of Diamonds.
Swatch develops SISTEM51, the world's first and only self-winding mechanical movement with fully automated assembly.
EM Microelectronic introduces world’s smallest microchip with the lowest energy consumption and Bluetooth compatibility.
The Group takes a further step towards gold traceability by investing in the expansion of its own centralized gold foundry. It moves to entirely internal processing of precious metals, from the foundry to the semi-finished and finished products.
Nivarox develops a titanium-based, amagnetic alloy for balance springs. The innovative amagnetic Nivachron™ hairspring is very effective against the effect of temperature variations and offers excellent shock resistance.
The Nivarox foundry receives from the Responsible Jewellery Council the certification Code of Practices (RJC CoP), and Chain of Custody (RJC CoC) in the following year. Swatch Group is now in a position to cover the gold requirement within the Group and to control the entire gold processing chain internally.
2019
New Swatch HQ
After a construction period of almost five years, Swatch inaugurates its new headquarters in Biel, Switzerland – one of the world’s largest timber structures, designed by the Japanese star architect Shigeru Ban. Heralding a new chapter in the history of the brand, this building defies current conventions, just like the watches that are created there.
This special place nestled between the headquarters of Omega and Swatch in Biel (Switzerland) is entirely dedicated to time and unites the playful, cheerful style of Swatch and the luxurious character of Omega in two museums under one roof.
Tissot launches its first connected watch using its own operating system, fully developed and produced in Switzerland.
Swatch innovates with Bioceramic, a skillful blend of ceramic powder and biosourced material that is used in the manufacture of Swatch watch cases, bezels and crowns. Characterized by a soft, silky touch, Swatch implements it in all its key product lines.
Swatch shakes up the entire watch industry with the launch of the Bioceramic MoonSwatch, the fruit of a collaboration between Swatch and Omega. The collection is inspired by the solar system and includes eleven models named after celestial bodies. It is arguably the most successful Swiss watch launch in decades, perhaps ever.
Swatch launches the Bioceramic Scuba Fifty Fathoms Collection inspired by Blancpain’s Fifty Fathoms diving watch and the five oceans. This collaboration combines the signature characteristics of both brands: joy of life and technology.
Marc A. Hayek is elected to the Board of Directors of the Swatch Group.
